LPU - Lovely Professional University
What you'll learn

The course provides a strong foundation in accounting principles, journalizing, ledger posting, trial balance preparation, depreciation accounting, preparation of final accounts, bank reconciliation, and rectification of errors. It also introduces learners to computerised accounting systems and emerging AI applications in accounting practices. Emphasis is placed on hands-on learning, analytical thinking, problem-solving ability, and industry-oriented accounting practices to enhance academic performance, workplace readiness, and career development. Upon successful completion of the course, learners will be able to record and classify business transactions systematically, prepare financial statements accurately, apply different methods of depreciation, use accounting software for recording vouchers and generating reports, and prepare Bank Reconciliation Statements and rectification of errors effectively, thereby developing practical accounting, digital, and employability skills required for professional growth.

  • Meaning, Advantages & Limitations of Accounting, Difference between Book Keeping & Accounting, Types of Accounting, Difference between Accountancy & Accounting, Meaning of Generally Accepted Accounting Principles, Difference between IFRS and GAAP, Elements of financial statements, Accounting Concepts, Conventions & terminology, Concept of Accounting Equation and Procedure for Developing an Accounting Equation.
  • Meaning and Classification of Accounts, Identification of Transactions, Format of Journal Book & Recording of transactions in Journal, Preparation of Ledgers from Journal, Posting and Balancing of Ledgers
  • Trial Balance : Introduction, Objectives and Preparation of Trial Balance Depreciation Accounting : Meaning, Need and Causes of Depreciation,Factors affecting Depreciation, Methods of Depreciation-Straight line and written down value method Meaning of Provision & Reserve, Difference between Provisions and Reserves
  • Meaning, Need and Elements of Financial Statements, Grouping and Marshalling of Assets and Liabilities, Preparation of Trading Account, Profit and Loss Account and Balance Sheet Final Accounts with Adjustments : Treatment of Direct Items, Indirect Items, Incomes and Expenses, Classification of Capital and Revenue, Treatment of Items of Adjustment Appearing Outside the Trial Balance, Treatment of Items of Adjustment Appearing Inside the Trial Balance
  • Introduction to computerised accounting systems, creating a company, configure, features settings, creating accounting ledgers, groups, creating stock items, voucher entries, generating reports, shutting a company, application of AI in the accounting, popular accounting software and their key features
  • Introduction and Types of Errors, Rectification of Errors; Bank Reconciliation Statement : Introduction, Purpose and Uses of Bank Reconciliation Statement, Methods for preparing Bank Reconciliation Statement

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Dr. Gurpreet Pal Kaur
Assistant Professor

Dr. Gurpreet pal Kaur is currently working as an Assistant Professor at Mittal School of Business, Lovely Professional University. She holds a Ph.D. in Commerce with specialization in Accounting, Finance, and emerging business technologies. She has more than 10 years of teaching and research experience in the areas of Financial Accounting, Cost Accounting, Management, AI-driven business transformation, and sustainable innovation. Her academic and research interests include accounting education, entrepreneurship, financial literacy, AI applications in business, and innovation in developing economies. Dr. Gurpreet has published research papers and book chapters in reputed national and international journals and edited volumes related to accounting, finance, entrepreneurship, sustainability, and technology-enabled business practices. She actively contributes to academic development through curriculum design, outcome-based learning, and skill-oriented teaching approaches with emphasis on practical applications and industry relevance.